Company Information

Company Name: Mega Funded
Company Legal Name: Prop Trade Tech Pty Ltd
Company Registration No.: ABN 71 661 045 950
Operating Since: April 11, 2024
CEO Name: Undisclosed

Challenge Details

Mega Funded provides two types of challenges for traders: 1-Phase Challenge and 2-Phase Challenge. Here are the details :-

1-Phase Challenge Details

Pricing

$15,000 Account: $140
$25,000 Account: $190
$50,000 Account: $290
$100,000 Account: $489
$200,000 Account: $900

Rules

Profit Target: 10%
Total Loss: 8%
Daily Loss: 4%
Profit Share: 80%
Drawdown Type: Trailing Drawdown
Time Limit: Unlimited
Leverage: 1:50
Max Lot Size: No limit
Payout Frequency: Every 14 Days
Allows Copy Trading: Yes
Minimum Trading Days: None

2-Phase Challenge Details

Pricing

$5,000 Account: $36
$15,000 Account: $100
$25,000 Account: $150
$50,000 Account: $260
$100,000 Account: $440
$200,000 Account: $820

Rules

Profit Target (Phase 1): 10%
Profit Target (Phase 2): 5%
Total Loss: 10%
Daily Loss: 5%
Profit Share: 80%
Drawdown Type: Static Drawdown
Time Limit: Unlimited
Leverage: 1:100
Max Lot Size: No limit
Payout Frequency: Every 14 Days
Allows Copy Trading: Yes
Minimum Trading Days: None

Scaling Plan

Mega Funded offers a fairly easy Scaling Plan with which traders can increase their capital to up to $2 million.

Eligibility for Scaling Up :-

To be eligible, traders must:

Receive four consecutive payouts.
Traders will have to end their last trading cycle in profit.

Once eligible, traders can receive a 20% monthly increase in their account balance.

Spreads and News Trading Rules

Spreads

Mega Funded has partnered with Eightcap to provide competitive spreads and low commissions. Traders can check out Eightcap’s offerings here.

News Trading Rules

News trading is allowed by Mega Funded but trader are not allowed to open or close any position 5 minutes before and 5 minutes after a high impact news release. Any profits generated within this 10 minutes window will be removed and be considered a "Soft Breach."

Other Important Rules

Daily Drawdown Calculation

Mega Funded calculates daily drawdown based on balance or equity whichever is higher at the end of the each day, The drawdown type used here is Equity Based Drawdown therefore the drawdown limit will keep increasing or decreasing based on the profit and loss in the account.

Countries Banned from Purchasing

Mega Funded does not allow traders from these countries to join their funding programs:

Cuba
Islamic Republic of Iran
North Korea
Myanmar
Russian Federation
Somalia
Syrian Arab Republic
Ukraine

Prohibited Trading Strategies

Mega Funded has not mentioned any information related to prohibited trading strategies on their website.

Payout Methods

Mega Funded has not mentioned any information related to payout methods on their website.

Trading Commissions

Mega Funded has partnered with Eightcap to offer industry-leading commissions and spreads. For more information, visit Eightcap Trading Conditions.

IP Rule

Mega Funded has not mentioned any information related to IP Address Rule on their website. We advice traders to trade using same device from which they are going to purchase the challenge account.

Leave a Review for Mega Funded – Share Your Prop Trading Experience

Mega Funded

FAQs

Who is permitted to write a review on The Trusted Prop?

What areas can I focus on for providing a feedback in my review?

Do I need to upload some type of proof in order to leave a review?

How long does it take for my review to show up on the website?

Am I able to change or delete my review after submission?